- August 11, 2020
- Posted by: ASIFCONSULTING
- Category: General
Canadian Economy has been boosting jobs in the past three months. Even in the month of July 418,500 jobs are added which shows unemployment dips again.
The national unemployment rate in Canada decreased in the month of July from 12.3% to 10.9%. The decrease in unemployment shows that the economy is moving in the right direction even after this severe pandemic outbreak.
This is the sign of a promising Canadian Economy as part-time jobs are increased by 11.3% in the month of July. After the widespread lockdown and pandemic its higher achievement to maintain employment in this way.
Losses of part time jobs during lockdown were significantly high. Although full-time jobs were also lost, part-time work affected badly. The fastest growth in part-time jobs while full-time jobs going at a slower pace.
If we deeply analyse the Canadian Economy, the employment rate is strongly in the service-producing sectors, Accommodation and Food trade services and wholesale and retail trade.
The employment rate for new newcomers which are recent immigrants is increased in the month of July. in fact, the employment rate for newcomers is even higher than those born in Canada.
To know more about the economy updates one should know that the unemployment rate is decided as unemployed persons as a percentage of a labour force. While the employment rate is decided as the number of employed persons as a percentage of the population which are 15 years of age and over.
The second half of 2020 seems like it is for job growth and a booster for Canadian Economy.
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